Oh, the suffering... 
Every real estate agent has tried to figure it out, upon occasion. If you are an agent you wait for the buyer to tell you what they want, or what they THINK they want. Probing questions, matter of fact inquires or anything that could be a lever to a morsel of information. It is up to you, the agent, to unearth the REAL want and need of your buyer. Perhaps the confusion is a result of the Buyer not being able to open up or perhaps it is because the buyer does not know how to properly articulate what they are looking for.
We have all been out with the buyer that buys on impulse, intellect or the "unknown".
Reading a buyer is a skill that takes experience to master or for a lucky few, just a gift. Every buyer is different and complex.
A few great reminders or question for the buyer's agent is:
- Who is the decision maker? Is it the Mr., The Mrs., or a "Third Party"?
- Why are they buying the real estate?
- How soon do they want to move in?
- Will a buyer buy with need, emotion or a spreadsheet?
- Is the buyer secretly afraid [for example] of water and anything "lakefront" and the waterfront homes are a waste of time?
- Does this home remind Mr. Buyer of the home he grew up in where it may be a win/loose situation.
- Do they HAVE to sell to move; or is it a 1031 exchange?
- Hmmm, Did a family member show up with them and give a negative input? (Don't you just love when the third party shows up?)
- Will their purchase be to show off to their friends? Country club, ocean front.
Surely, we have all been out with the buyer party when we had the "lightening bolt" of WHY they have been looking or what they REALLY want. Maybe the wife loves the kitchen or maybe it just has a great fenced yard for the kids and dog out back.
A great challenge is: REALTORS, reflect why you bought your last house. Were you a good buyer? Did you really buy what you thought you were looking for or what you told your REALTOR or yourself what you were looking for? What made you "write"?
hey Chris- you are good! Third party involement and the spreadsheet comment- I am laughing. It really happens to all of us- part of the job I guess.
I think knowing the personalities of both MR and MRS really helps. Often one vision isnt quite the same as the other. To know who the decision maker is really benifits being able to narrow and close a deal.
How about we invent a spray mist that fills the car with heavenly scents to create a wonderful atmosphere - a utopia experience for buying.
Michele, how about a Sodium Pentothal mist? Suzanne is probably on board with that!
Chris,
Very interesting post. We have to be both Realtors and Therapists. Oh the spreadsheets. Every buyer I've ever had that works in banking or is a financial professional after seeing a property wants to go home and put it on a spread sheet. We really have to read between the lines.
Mitchell,
Let us not forget forget those with a degree in Engineering. They are in a catagory all their own. What a shame to be trapped within the walls of that brilliant brain.
People ask me all the time why I'm in real estate with a Psych degree. I tell them that I use it everyday! It's so hard trying to figure out the wants, needs, and the gotta haves. I got an email yesterday from a guy wanting something under $200k and fairly new and no HOA. I responded back to him that for the age, probably over 95% of the area has HOA and also asked what his problem with HOAs is. I asked if he thought they were restrictive and pointed out that most of the HOAs just want to maintain the common areas with landscaping and make sure no cars are parked on blocks for entended periods of times.
From what I understand, some HOAs across the country are very strict, and he's probably been in a bad situation. Hopefully we can get things cleared up.
"The Lovely Chris"
Hi there. "<Were you a good buyer?>"
I am an excellent Buyer. I know exactly what I want and I do not dicker about it. I write at 'full price' just to get the deal done. I ask for nothing and I close in the matter of weeks. I bet every Realtor out there would loooove to have me as their Buyer. You don't have to read my mind. I will tell you what I am thinking. Good or Bad. :)
I wish I could expand on the topic more but, we (Broker Bryant) and I do not work with Buyer's (investors only) Buyer's are just not something we do. We live waaaay to close to the Mouse. I am not a tour guide.
By the way I hope you are having a wonderful time. Congrats on the back to back featured AR news. :)
TLW "The Lovely Wife"...Anyone Want To Buy A Mickey Mouse House? SVW. ROAR!
I had a feature yesterday, too. Hmmm. Perhaps I have become a brilliant writer.....or maybe everyone else is busy with the holidays and they had slim pickin's.
Great ... I'm evolving. Finally, I'm not a knuckle dragger.
Chris,
A Triple Feature???? Has that been done before? I think you may be the first. Congratulations.
I think that any Realtor who eventually becomes a "buyers agent" has that gift. He/She can tune in and listen and picture the exact type of home for the client. I personally enjoy that part of Real Estate more than anything else.
Look how fast I'm evolving now TLW.
2 featured posts in a row!!! That HAS to be a first - Congratulations! Defining a good buyer is extremely difficult - but identifying a buyer's needs before they know themselves is even more difficult.
:: taking a bow ::
Thank you!
what do they want? LOL everything, and for free... lol
Seriously though... some great reminders. Good job.
That bow was a good idea. Chris I am LMAO here. :)
Karen she is my friend. We like playing together. Chris is the one that taught me the whole trunk monkey thing :)
TLW...ROAR!
Chris,
I could go on with your evolution gig, especially after seeing last night's South Park episode... I will refrain, though. Congrats on the gold star, and the other one, oh yeah and the other one. you are just about to beat Marc in points. I can hardly wait. :)
On our house, we had one major criteria: 5 acres on the Ocala Forrest. That narrowed it down to about 4 houses. Made it real easy from there.
Link to the Trunk Monkeys.
Why this humors me so, we'll never know.
http://www.trunkmonkey.com/
Thank you...I just added it to favorites. I have no idea why it amuses me either. It just does. Makes me want to write a "twisted trunk monkey post" :0) TLW...ROAR!
Double Dog Dare Ya!
Oh! Man! A Double Dawg! Twisted Monkey Trunk Post in progress. Hah! Now I can stick you in and blame you for what I have done. SVW.
P.S. I'll tag ya too. :)
TLW...ROAR!